Shoosmiths advises DTCP on $80m Series B investment into Dexory
November, 2024 - Milton Keynes, England
Shoosmiths has advised international investment firm DTCP on leading a $80m Series B investment into UK-based robotics and data intelligence company start-up Dexory.
The law firm advised DTCP on the funding round, which included participation from Latitude Ventures, Wave-X and Bootstrap Europe, along with existing investors Atomico, Lakestar, Capnamic and several angels from the logistics industry. As part of the investment, DTCP’s Michael Rager joins Dexory’s board of directors.
The Shoosmiths team was led by corporate partner Alastair Peet, with support from principal associate Kat Hornsby, senior associate Jordan Telford and associate Hugh White.
The new funding, made up of a mix of equity and debt, brings the start-up’s total funding to $120m. A significant focus continues to be on expanding across the US market, where Dexory already has a strong market presence. The funding also aims to enhance the development and production facilities of Dexory’s UK headquarters.
Shoosmiths corporate partner Alastair Peet commented: “We’re thrilled to have supported major international investor DTCP in leading this pivotal investment round into cutting-edge robotic technology. This investment underscores the dynamic potential of UK-based businesses at the forefront of innovation, and we look forward to watching both parties as they continue to disrupt and lead the market.”
Michael Rager, Partner - Growth Equity at DTCP and board member at Dexory added: “We are very impressed by the progress Dexory has made in transforming warehouse operations with its cutting-edge technology. The company is perfectly positioned at the intersection of our investment thesis on digitisation and automation. Its ability to capture detailed, actionable data from physical spaces and integrate it seamlessly into the supply chain is impressive. We are confident in its vision and excited to support their product innovation and expansion into global markets. We are also incredibly grateful to the Shoosmiths team for their commitment to enabling this investment.”
Shoosmiths’ venture capital team advises on more venture and growth capital deals than any other UK law firm (according to PitchBook’s annual league tables 2023), advising on over 175 deals in 2023 alone. This investment also highlights the firm’s ongoing commitment to advising exciting and ambitious clients wherever they are in the world.
